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5 Motivations in Becoming a CMA

5 Motivations in Becoming a CMA

1. Gold-Standard in Management Accounting

Your aunts and neighbors may never heard of CMA. In corporate accounting world, CMA is a very respected designation.

The CMA is an advanced professional certification specifically designed to measure the critical accounting and financial management skills. This is especially relevant for success in a business environment.

Here are some tangible benefits you can get after becoming a CMA.

2. Arguably the Most Global Management Accounting Certification

CIMA is the largest in this niche, but the vast majority of members are located in UK, and to a lesser extent Europe and commonwealth countries.

The number of US CMAs is smaller, but the certification is now the most popular management accounting certification not only in the US, but also in the fastest developing regions, namely China and the Middle East. As you can see from the chart extracted from the August 2014 edition of Strategic Finance, almost half of the new CMA candidates came from the Middle East (UAE, Egypt, Saudi Arabia and Jordan), and almost 1/4 from Asia Pacific (China and India).

3. CMAs Get Paid More

Let’s face it — we want to learn, but ultimately we need the certification to get better-paid jobs. According to a comprehensive study by IMA, CMA certification holders earn 1/3 more than their non-certified counterparts.

4. For Many, CMA Skills are More Practical

Various industry journals have indicated that 80% of accountants end up in non-public accounting. The management accounting knowledge and skill is in fact more useful for these professionals. In fact, many dual CPA and CMA holders find the materials covered in CMA more interesting and practical in their daily work.

5. IMA Makes it Easy for Us

Unlike the CPA exam in which getting qualified is sometimes harder than passing the exam itself, IMA (the CMA exam administrator) make things clear, simple and organized for applicants. IMA openly welcomes international candidates with the exam offered in hundreds of locations worldwide.

Don’t get me wrong — it is easier not because of a low barrier of entry, because candidates are still required to have a bachelor degree, a rigorous exam and 2 continuous years of management accounting experience to get certified.

But IMA makes the process of becoming a CMA as smooth as possible. Candidates can focus on passing the exam and fulfilling the experience, instead of getting stuck with the bureaucracy and conflicting rules from different State Boards.

IMA also bends over to promote the CMA brand. Here is an example of the work among college students.

5 Motivations in Becoming a CMA

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